Active Development AidData Chinese Aid

China Development Bank provides $400 million loan to Afreximbank for on-lending purposes in 2023

$400M USD

Funder	China Development Bank (CDB)
Recipient Organization	African Export-Import Bank (Afreximbank)
Country	Africa, regional
Start Date	Aug 28, 2023
End Date	Jan 26, 2030
Duration	2,343 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`102631`

Grant Description

China Development Bank provides $400 million loan to Afreximbank for on-lending purposes in 2023 On August 28 2023, China Development Bank (CDB) and the African Export-Import Bank (Afreximbank) signed a $400 million term loan facility agreement. The loan carries a 7-year maturity.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

The borrower is expected to use the loan proceeds to on-lend to African small- and medium-sized enterprises (SMEs) involved in extra- and intra-African trade and those engaged in the productive sectors in Afreximbank Member States.

More specifically, the loan proceeds can be used by the borrower either directly to support eligible African SMEs that meet Afreximbank’s requirements or indirectly through local financial intermediaries.

📋 Staff Comments

1. African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution

📚 Sources & References

Afreximbank and China Development Bank sign US$400-million loan to support Africa SMEs
国家开发银行：融通资金服务共赢助力共建“一带一路”高质量发展 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.